Tredegar Co. (NYSE:TG) Sees Significant Growth in Short Interest

Tredegar Co. (NYSE:TG - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 380,700 shares, an increase of 31.5% from the March 15th total of 289,500 shares. Based on an average daily volume of 92,300 shares, the days-to-cover ratio is presently 4.1 days. Approximately 1.3% of the company's stock are short sold.

Institutional Investors Weigh In On Tredegar

A number of hedge funds have recently modified their holdings of the stock. FMR LLC increased its position in Tredegar by 161.5% in the third quarter. FMR LLC now owns 9,445 shares of the basic materials company's stock worth $69,000 after buying an additional 5,833 shares during the last quarter. State Street Corp grew its stake in shares of Tredegar by 0.3% during the 3rd quarter. State Street Corp now owns 587,254 shares of the basic materials company's stock worth $4,281,000 after acquiring an additional 1,930 shares during the period. Barclays PLC increased its holdings in Tredegar by 25.0% in the 3rd quarter. Barclays PLC now owns 133,827 shares of the basic materials company's stock worth $975,000 after acquiring an additional 26,757 shares during the last quarter. Geode Capital Management LLC raised its stake in Tredegar by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 581,762 shares of the basic materials company's stock valued at $4,242,000 after acquiring an additional 7,812 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Tredegar by 23.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 68,240 shares of the basic materials company's stock valued at $497,000 after acquiring an additional 12,777 shares during the period. Institutional investors own 79.24% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Tredegar from a "hold" rating to a "buy" rating in a research report on Monday, March 24th.

Tredegar Stock Performance

TG stock traded up $0.11 during midday trading on Thursday, hitting $7.38. The company's stock had a trading volume of 795 shares, compared to its average volume of 102,208. Tredegar has a 1 year low of $4.31 and a 1 year high of $9.22. The stock has a market cap of $255.78 million, a price-to-earnings ratio of -9.34 and a beta of 0.75. The stock's 50-day moving average price is $7.43 and its 200 day moving average price is $7.61. The company has a quick ratio of 0.42, a current ratio of 0.79 and a debt-to-equity ratio of 0.13.

Tredegar (NYSE:TG - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The basic materials company reported $0.06 earnings per share for the quarter. Tredegar had a negative net margin of 3.84% and a positive return on equity of 10.10%. The company had revenue of $154.05 million during the quarter.

Tredegar Company Profile

Tredegar Corporation manufactures and sells aluminum extrusions, polyethylene (PE) films, and plastic and polyester films in the United States and internationally. It operates through three segments: Aluminum Extrusions, PE Films, and Flexible Packaging Films. The Aluminum Extrusions segment produces soft and medium strength alloyed aluminum extrusions, custom fabricated and finished aluminum extrusions for the building and construction, automotive and transportation, consumer durables, machinery and equipment, electrical and renewable energy, and distribution markets; and manufactures mill, anodized, and painted and alloyed aluminum extrusions to fabricators and distributors.